Errors and Omissions Insurance
Errors and Omissions Insurance in New Jersey
Business Liability insurance is one important insurance cover that most businesses should have. This type of policy will pay for claims as a result of bodily injury or property damage to third parties, but what happens in the event of a professional error during the course of your business? A plumber, for example, can make a plumbing error, flood a client's home and get sued. Or think of a wedding planner making a typo mistake on wedding invitation cards.
Errors and omissions can happen to anyone who offers professional services, and an Errors and Omissions policy will cater for that. A negligent act or a simple error by your business can result in huge financial losses. If one of your clients sues you, the legal costs and financial loss incurred by that client will be paid by your Errors and Omissions insurance policy.
D’Agostino Agency Insurance knows and understands that errors and omissions can happen to anyone. We offer E&O coverage to different professionals, ranging from engineers, event planners, private investigators, plumbers, lawyers and insurance brokers, just to mention a few.
Professionals Offering Advice or A Service to Clients: You Need E&O Coverage
Are you a lawyer, an engineer or an event planner? Does your business involve giving advice to clients? Then you need Errors and Omissions cover. In the medical field, it is called malpractice insurance. Doctors and other medical practitioners are required to have it. Your E&O policy will cover all your employees, whether full-time or part time as well as your subcontractors.
Do I Need E&O Insurance in New Jersey?
- If you offer professional services to clients, you will definitely need Errors and Omissions coverage.
- The professional advice you give to clients is very important, but how about if you give wrong advice that results in financial loss to the recipient?
- Some clients will require you to have Errors and Omissions coverage.
Taking E&O coverage is therefore very important for any professional offering advice and services to the public. Operating without this coverage is risky for your business.
What is E&O Insurance?
You will find different types of policies on the market are tailor made for different businesses and professionals. The retroactive date on your policy is the date your E&O policy coverage will start. Any loss that will happen after that will be covered by the policy. You will find that a claim that happened three years ago can be covered by this type of policy as long as the policy was issued on a claims made basis.
At D’Agostino Agency Insurance, our Errors and Omissions policy will cover the following:
- Copyright infringement
- Subcontractors and anyone employed by your company whether part time or full time
- Legal costs
- Negligent acts whether alleged or actual
- Errors and omissions
Get in Touch With D’Agostino Today
To protect your business against human errors and mistakes,
why not get in touch with D’Agostino Agency Insurance today. We can do a free E&O quote for you.